Nelson Mandela once said, “Education is the most powerful weapon which you can use to change the world.” Nothing can be truer than this for as education changes people and communities, education can have a tremendous impact on the world in many other different ways.
It has been said many times that international education not only provides learning opportunities for global students, it creates life-changing experiences, more than local education ever can. More than this, however, international education contributes extensively to the development of society as a whole.
For one thing, international education creates extensive job opportunities and enables economic growth. A robust international education market also deepens and expands the thrusts of globalization.
Uplifts employment landscape
According to the NAFSA: Association of International Educators, international students enrolled at United States colleges and universities in the academic year 2019-2020 supported 425,996 jobs. It is no surprise that with an impact this huge, many countries are eager to boost foreign student enrollment.
Furthermore, one study revealed that among international students, about 81% indicate better career prospects as a driver for studying abroad while 43% opted to study abroad to pursue a specific career.
When the pandemic broke, many higher education institutions (HEIs) were challenged by plummeting revenues and enrollment levels due to travel restrictions that kept international students away. This was only the tip of the iceberg in terms of the impact of the study abroad market in certain countries.
The estimated global economic impact of international education is $300 billion, according to an article published at The Pie News. On top of this financial impact, foreign students also have a ripple effect of other benefits such as a more diverse and inclusive academic and research space.
The Pie News article also pronounced that international studies allow an innovative and interconnected global society. This dynamic further boosts the interdependence of different nations and enables deeper diplomatic ties across different ethnicities.
As an agent of globalization, study abroad opportunities contribute to a country’s innovation and growth. In the US, for instance, foreign students contributed to the growth of its knowledge economy and in leading successful businesses.
Meanwhile, international students in the United Kingdom helped establish about 50% of university startups. This proves that the impact of the foreign studies market goes beyond financial aspects in different countries.
Despite the challenges the international studies market is facing, there is no doubt that this industry offers a goldmine of opportunities not only to individuals but to host countries as well. These effects may even cause a ripple of goodwill on the whole world.